Trade Report: The Brokerages give average Rating of “Buy” to Richmont Mines Inc. (NYSEMKT:RIC)

The Brokerages give average Rating of “Buy” to Richmont Mines Inc. (NYSEMKT:RIC)

Shares of Richmont Mines Inc. (NYSEMKT:RIC) have been given a consensus rating of “Buy” by the twelve brokerages that are presently covering the company. Five analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $7.89.

Separately, CIBC cut shares of Richmont Mines from an “outperformer” rating to a “sector performer” rating in a research report on Tuesday, August 9th.

Richmont Mines (NYSEMKT:RIC) traded up 1.44% on Friday, reaching $8.48. 304,116 shares of the company’s stock traded hands. The stock has a 50-day moving average of $9.70 and a 200 day moving average of $8.69. The firm has a market capitalization of $531.60 million, a P/E ratio of 63.76 and a beta of 0.28. Richmont Mines has a 52 week low of $2.79 and a 52 week high of $11.66.

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